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Slovak Republic entered the ERM II in the end of 2005 whereby it came nearer to its strategic objective - joining the euro area. In this paper we try to answer two questions. Section 1 examines the features and risks of the EMU. Is EMU an optimum currency area and what is the OCA scorecard of...
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The transformation of the world economy over the past two decades has been manifesting itself in various forms. On the one hand, there is an increasing interdependence of the world economy, which is a manifestation of the depth of the globalization process, mainly thanks to the expansion of...
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based on the quantity theory of money. Some theorists say that any rate of inflation other than zero is inherently instable …In this paper the stability of an inflationary process is examined. A dynamic model of the inflation has been developed …. They say that as people become aware of the fact of continues inflation, however slow, they will anticipate inflation and …
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price-adjusting after monetary intervention and inflation expectations. A monetary policy rule is derived from the model …
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